SBI has rolled out an exciting new feature that’s sure to grab your attention if you’re an SBI account holder.
This development promises substantial advantages for customers, and we’ve got all the details right here.
Introducing the E-Rupee by SBI, a groundbreaking digital currency platform accessible through Yipi.
This move follows the RBI’s introduction of CBDC last December.
Starting today, SBI customers can dive into the world of digital transactions with E-Rupee through Yipi.
The launch of this new service brings a host of benefits, not just for you but for the government too.
Cost Savings
E-Rupee eliminates the need for printing physical currency notes, which can be expensive. Creating a ₹100 note costs around ₹17, whereas the digital equivalent comes at a fraction of that cost.
Counterfeit Currency
With digital transactions, the risk of counterfeit notes circulating in the market is significantly reduced, boosting the integrity of the financial system.
Curbing Black Money
Every digital transaction can be closely monitored, making it harder for black money to flow unchecked. This initiative is a vital step toward reducing illicit funds.
Fighting Terrorism Financing
Tighter surveillance on transactions helps in clamping down on terror funding, making our country safer.
Benefiting the Public
These measures ultimately benefit the common citizens as they lead to a more secure and transparent financial environment.
Another advantage of E-Rupee is its durability. Unlike physical notes that wear out in about four years, digital currency doesn’t degrade over time.
Additionally, the security measures in place make digital theft and looting virtually impossible.
E-Rupee employs technology similar to cryptocurrencies, and its value mirrors that of traditional currency.
In summary, SBI’s E-Rupee through Yipi is a game-changer, offering cost savings, security, and transparency while bolstering the fight against counterfeit currency, black money, and terrorism financing.
It’s a win-win for customers and the nation alike. Don’t miss out on this exciting development!
